According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “
Separately, ValuEngine lowered shares of Rocky Brands from a buy rating to a hold rating in a research note on Friday, August 2nd.
Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Wednesday, October 23rd. The textile maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. The company had revenue of $67.18 million during the quarter, compared to analysts’ expectations of $68.20 million. Rocky Brands had a net margin of 6.09% and a return on equity of 9.86%. As a group, analysts forecast that Rocky Brands will post 2.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, December 2nd. Rocky Brands’s dividend payout ratio is presently 29.79%.
In other Rocky Brands news, Director Robert Burton Jr. Moore acquired 1,500 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average cost of $27.80 per share, with a total value of $41,700.00. Following the completion of the purchase, the director now owns 20,413 shares of the company’s stock, valued at $567,481.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Finn sold 2,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.89, for a total transaction of $59,780.00. Following the completion of the transaction, the director now directly owns 25,717 shares in the company, valued at $768,681.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $229,960. 7.80% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Boston Advisors LLC bought a new position in shares of Rocky Brands in the third quarter valued at $1,406,000. First Trust Advisors LP lifted its stake in shares of Rocky Brands by 28.1% in the third quarter. First Trust Advisors LP now owns 15,606 shares of the textile maker’s stock valued at $519,000 after buying an additional 3,423 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Rocky Brands by 11.4% in the third quarter. Russell Investments Group Ltd. now owns 24,843 shares of the textile maker’s stock valued at $816,000 after buying an additional 2,540 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Rocky Brands by 5.9% in the third quarter. California Public Employees Retirement System now owns 52,197 shares of the textile maker’s stock valued at $1,735,000 after buying an additional 2,900 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Rocky Brands by 37.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,520 shares of the textile maker’s stock valued at $615,000 after buying an additional 5,090 shares in the last quarter. 75.01% of the stock is currently owned by hedge funds and other institutional investors.
About Rocky Brands
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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